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agree with with what julia said. i think that you have to interpret these elections in two ways. on one side, you have the independent versus unionist vote. and in that way, i think you can safely say there has for the been a great deal of change in the sense that the big push towards pro independence parties are as asked for didn't happen. on the other side, you can clearly say that in the left versus right, there has been just a move towards the left. and in particular with parties towards pushed against austerity cuts. so i think the way to on interpret that is that it will be hard for an independence referendum, although he has already announced he will do so. and he had to do so ban he has always announced that he will do this whatever results come out of of the elections. but to do so, he will have to form a government with the left erc party, which he's fiercely against austerity. so i think that for rajoy, all this means that probably he is strengthened in the and itity independent side of the story, but also he will find it very hard to push further austerity that is needed to
aoe going to take them out. you guys lost the election. president obama said he was going to raise taxes on the richest 2%. why is this a surprise? that is what happens at the end of the year. it is a little slow. we'll get over that. come january first, they will pass the tax cut for 98% of the people. >> i didn't think this was a mandate. i agree your man won. but jim, the basic deal was, okay, john boehner acknowledging what this was. putting this on the table and he said this a million times in return for some. modest reform. while the biggest stuff waits for next year. if the democrats say it is off the table and if harry reid is trading bars with mitch mcconnel, what is up here. senator durban said, it shouldn't be ps deal. i don't think there is a bar gain to be had. it is a win win for alabama. he is going to get the tax hikes or the rb ares will say no deal and he gets the tax hikes which is what he will prefer anyway. that is a big pot of money he can use for whatever he wants. they are still not going to be a deal. baker, democrats saying there is no problem with social
to clear those levels. we have the ceiling created by the highs. right before the election. let's call that the romney rally which creates a thick wall of resistance to 1450. if we beat the pre-election highs, then there is still one last barrier even though it broke down after the election. every time it would rally, the move would peter out. right now we are out in the same area and then start giving up ground. to get over the symmetry problem the s&p needs to close over 1391 and needs to do it real fast. even though brodin has a constantly positive attitude, the new line in the sand is the november 16th line of 1346. here is the bottom line. based on the reading of the charts, brodin things yesterday's rally was not a flash in the pan. her chart suggests it was perhaps a real bottom. if we go over the fiscal cliff, things are going to get bad. it is good to have the charts or her reading of the charts on the bull side again. "mad money" is back after the break. sometimes what we suffer from is bigger than we think ... like the flu. with aches, fever and chills- the flu's a really bi
in the u.s. markets after the election on november 6th. we're back to -- >> we have a crack data team, don't we? we ask, they perform. thank you very much. >>> from california to florida, walmart workers have been staging protests at various locations across the country. but, is that keeping shoppers away? we'll go live to a walmart store in maryland for the latest action on that. >>> plus, we'll tell you six ways to find the best deals out there. all it takes is your fingers and a mobile device. >>> up next -- fiscal cliff getting closer and closer every single day. one member of our panel says there is no way the lawmakers will hash out a deal by the end of the year. what does that mean for stocks? stick around to find out. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no mat
of things going on in politics as ever. we had regional elections in spain. yields you can see slightly higher, but still well below 6%. now, these regional elections fairly important because we know catalonia has been pushing on on independence. now, it looks less likely we'll get that referendum, but not because people in catalonia are any less eager on a separatist movement. just that they didn't vote for the main guy who is proposing it. they voted for competitor party which is makes it slightly harder in the short term for them possibly to get a referendum going. so eases the pressure in the short term but means there is still a longer term problem there. catalonia is one of those regions that still has very large deficits, as well. so the politics in spain slightly skewed as they will be, but not so much pressure on rajoy at the moment. unlikely to ask for assistance in the short term. we also have another euro group meeting take, back in brussels, yes, i know, we seem to have one every week. they may come up with a long term financing deal for greece. finally talking about debt f
they be equal, necessarily? >> you know, we just had a big election campaign. president ran on the importance of extending tax cuts for middle class families who have been struggling for the last two decades in our economy. and for raising taxes on the top. it's important we address our problems in a balanced way. that's what the president laid out in his budget, which reduces the combined deficit over the next ten years by $4 trillion with a combination of spending cuts and additional revenue. >> but to michelle's point, if you deal with the tax tax portion first, you know, you lose some of the leverage and getting some spending cuts made at some point in the negotiations if you're emphasizing taxes first. do you agree? >> as far as economy goes, what could provide the greatest certainty for the economy right now would be for the house to take up the bill that the senate passed. extend those middle class tax cuts. >> mr. krueger, thank you for joining us. appreciate it very much. >> thank you for having me. >> alan krueger from the white house. in the latest score they're calling them physic
owners are happy with the way their elected representatives are handling this looming threat. >> chief washington correspondent john harwood kicks off our "rise above" road trip with a trip to john boehner's home state of ohio. what are his constituents saying about the situation? >> they're worried about it, michelle. the fiscal cliff is an abstraction to some degree here in washington. they're just behind me at the white house. representatives are meeting with white house officials now. in southwest ohio, john boehner's district north of cincinnati, a tip back into recession would bring very real economic pain. >> oh, i thought -- you did that so well, john. i thought you were leading up to a tape soof some kind. >> i was leelding ileading up f some kind, it's not rolling. >> you fooled them. representatives go back to their home states during a thanksgiving holiday. do you think they got an earful? get something done, compromise, do something, or stand your ground. what do you think the message was? >> yes, i do think they did. it's not a stand your ground message. somebody said th
that after president sweeps the election. all of a sunddden on a thanksgiving holiday, if it is not a recession, it is a slow-based recovery. it strikes me as odd. the companies that the unions and the left love to hate. they love to go after wal-mart and here they go again. maybe it has nothing to do with the election. i got 20 seconds. >> when it kim to hostess there was a petition on the website to have the government bail out hostess. the unions knew that something like that was going to be cal d ed for. >> we appreciate it very much. that is it for tonight's show. thank you for watching. i think the unions are making a very big mistake. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charge
to get reelected and it's not only the german elections that are around the next corner. everybody has to keep facing their own taxpayers. so i think they'll keep doing it with a combination rather than taking all the bitter medicine. either there is a default or the countries that have given the money have to write-off their debt. on one side or the other, it has to go because obviously greece can't pay back, at least not to the extent that they would have to pay back. they might limp through some measures. there was also talk about an interest rate moratorium for up to ten years. a lowering of interest rates. of course that way you can ease the burden a bit, but ultimately there will have to be a public sector haircut of some sort and a substantial one other than that you can't get any relief from the debt front. >> you're also still in brussels because we have budget talk. let's remind ourselves what david cameron is saying about his opposition to increasing those budgets. >> clearly at a time when we're making difficult decisions at home, it is quite wrong for there to be proposals
as a result of paying it earlier. >> adelson loses in the election so he realizes rates are going higher so he pays a special -- >> i don't know what the numbers add up to. he spent over -- how many millions did he spend? >> for investors that want to catch the next one, it's a shot in the dark to know who will be -- we're kind of running out of time here. >> the clock is ticking. >> go to one where you have grandkids relying on the dividend. anyone out there? >> it's great point. >> generation skip? >> walton grandkids, $800 million a month in dividends. >> how do you spend all that? >> i don't know. >> but brown forman is a fantastically performing -- a real winner. you may know this as jack daniels. very successful -- very successful growth company. as has bean. these are very, very cash flow spewing companies and they're giving it to you. i love it. i really do. >> it's amazing. >> we talked about it so long ago after the election you started to see it pop one after another. walmart setting the tone. >> returning capital to share holders is a theme. adt as well increasing its share repurch
. our president during the election, he himself embraced the three to one notion and referenced bowles/simpson. i think both sides understand that. i'm not believing that there's that much irresponsibility among leadership in washington. >> let me ask you about entitlements. it's unclear at this point as to whether democrats are seriously willing to put that on the table. if you listen to harry reid, the senate majority leader, it would certainly suggest they're not. the white house itself has said it considers entitlements, social security, and otherwise as a separate issue from the fiscal cliff. house leader eric cantor speaking this morning in washington about that very issue. i want you to listen and we'll talk about it on the other side. >> we have not seen any good faith effort on the part of this administration to talk about the real problem that we're trying to fix. i'm told that mr. bowles, as some of us will meet with him later today, had said earlier this morning there's been no serious discussion by the white house on entitlements, on medicare and medicaid. >> is that where
're part of a group called fix the debt which is calling on our elected officials to step up to solve the nation's fiscal challenges. a eamon javers speaking with them on capitol hill. >> i want to build on what bob pisani just said. there is no question markets are hanging on every word coming out of this capitol hill fiscal cliff debate but i'm not sure markets are getsing this right. listen to the speaker boehner sound bite that rallied the market earlier this morning. then on the other side i want to explain what he was actually saying there. take a listen. >> it's time for the president and democrats to get serious about the spending problem that our country has. but i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> now the market rallied on boehner saying he was optimistic. we saw a nice little balance in the dow jones after those comments came automatic. but the markets should not necessarily be rallying on everyone of these statements because lot of them are simply boiler plate, place holder kinds of statements that memb
. the problem is that time is marching on. we've had the election, we've had thanksgiving. the excuses are running out. the lame-duck session is only so long. that's probably why the markets are getting nervous. although you may get a deal done in q-1 rather than in q-4, the fact that it actually hits from january 1st is going to keep business very cautious, very defensive and that's going to worry the equity market. >> it's interesting because it also comes against the landscape where we've seen chinese equities underperform, they reminded us very few of its member countries have great growth prospects going forward. that's probably wise. people are saying why is it that across the globe the u.s. fiscal cliff is such an issue. well, it's because sources of growth at this point are few and far between. >> that is the problem. where is growth going to come from. the one place that looked set for a reasonable 2013 was the u.s. economy. europe flat, china slower probably than this year. but a reasonable set of growth. if you put a 3.5%, 4% of gdp drag on that economy which was only growin
that, some say until after the elections. >> jim, thank you very much. >>> at $267 million u.s. prosecutors call it the most lucrative insider trading scheme ever. we get reaction from the judge who presided over the raj raj rat man trial and which tablet will santa be carrying this year? americans are always reado work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this he pursuit of perfection. >>> after years of effort the government now directly linking steven cohen to an insider tradin
the qe-3 sell-off, the sell-off after the election. we've gotten half of that back. s? an opportunity, if you were freaking out last week, going my gosh, i don't want to be long, i don't want to be invested going into the end of the year, you're now getting the opportunity. so investors at home. if you feel yourself just as you said, getting filled with hope, i hope this continues, i hope this rally goes on, that's not sound investing. this is an opportunity to take some things off the table. the turkey gods are smiling on you. >> what would you take off the table? i think the tide is going to rise all boats or sink all ships. so, yeah, if you've got longer term gains and want to capitalize on that tax advantage now, that's fine. if you stay invested in this environment, you're betting on congress. i mean, you're not betting on the market, you're betting on congress. and they don't have a very good track record here, so i think from now until the end of the year -- >> i don't know, i think they have a track record of exploring all the other possibilities and finally doing the right th
were having during the election. they lost. a majority of the american people, more than the number of people who actually voted for the president don't great with that approach. they great with the president's himself here in not recognizing that he does not have the leverage he believes he had. >> he grew his from boehner earthquake. >> no, he didn't. fuel will youly lost sea. >>> now, litz listen to, this fiscal cliff or no fiscal cliff, your taxes will probably go up anyway. it's all because of obama. >> the economy, slam investors and triple capitalism. say no to nationalized health care system, no to blanket tax increases and that means let low. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and
up above 13,000 barely on the dow. europe taking stock of spanish elections over the weekend waiting to see if they can agree on the bailout for greece. we start with black friday shopping weekend. numbers look out as we kick off cyber-monday. which retailers crushed it and which ones were crushed? >>> if you were keeping track, the dow added 421 points last week and bulls argue it could add even more if european leaders settle this dispute over greek aid. we'll discuss the potential impact as they meet in brussels right now. >> a big day for analyst upgrades. research in motion, facebook, yahoo! we'll go over those and see why citi needs three analysts to initiate coverage of apple. we'll begin with retail sales picture from this past weekend. 139 million consumers shopped during black friday weekend. that's up from 132 million last year. total spending up to 59.1 billion to 54.4 a year ago. average holiday shopper spending $434 over the weekend. sales on black friday fell 1.8% from the same day a year ago setting the stage for today known as cyber-monday. american shoppers will spe
-off after the elections. we had sandy to deal with also. this has taken our mind off that which is a nice change of pace for the people on the east coast. so the holiday season gives us something to cheer about. the markets have done their part this week. >> how are we setting up for next week given that next week is going to be a full trading session for one but as i mentioned, washington gets back to business hopefully and maybe gets some work done. >> is it back to business? are we going to expect anything out of them? down here it doesn't seem like we are. i don't want to say that we've lost hope but the fiscal cliff, we don't think it will happen, we really don't. i don't expect anything out of washington. i would look more toward overseas and what they're seeing. things are going to keep falling. >> what matters more to the markets, spain or the fiscal cliff? >> the fiscal cliff is so quiet this week. i'm going to say spain. a bigger linchpin short-term going into next week. >> matt, thank you for stopping by. a special black friday treat for you. sears and kmart president one of th
and the shareholders who elect these individuals allow companies to move assets to the highest form? john malone constantly spins off things shuffling paper. looking to not only grow intrinsic value, but allowing it to surface. if you just bought a basket of securities that dr. malone had over the years, you'd have compounded assets at about a 15% the last 20 to 30 years. buffett does something else, buys and holds. irene rosenfeld, i said she's going to buy cadbury, she took it, put it into a package, spun off kraft. mondelez is a fantastic asset. another example, hillshire, sarah lee, we talked about that spinning off. look at the pieces. what are the elements that are worth? hillshire is a company 120 million shares, the stock's around $25, $3 billion market cap, basically the company sells protein for breakfast, jimmy dean sausages, the sausage category, how big is it? >> might be a little fat -- >> lunch meat. joe -- >> well, it's sausage. i want it. i eat it, i want it. i'm telling you it's not all protein. this is good. >> hot dogs, joe. >> just sort of in a trance. it's sort of a relief,
is something the new congress ought on take care of. that's what we elected them to do. let's talk about the fiscal cliff, solve this problem, move on to the next one, solve this problem involves higher taxes for some americans. >> but you know perfectly well, rick, the only rev lleverage yoe right now in order to cut spending is the tax issue. if you separate them, you raise taxes. when do you think spending cuts are ever going to come? you really believe they'll do it? >> i absolutely believe. i've been fortunate enough to spend time with the administration. i believe this administration spends there are spending problems and they want to address them. i believe they're willing to sit down and put everything on the table. i think we have to stop this mrilg gamesmanship -- >> they said they're taking social security off the table. they just said that. >> as far as the fiscal cliff goes. what they want us to say is we agree to higher taxes today for the promise of looking at spending in the future. i mean, come on. this is never going to happen unless we cut spending now. it's a shell ga
for the himpingts after the election republicans believe taxes should be raised on the wealthy but they should not be for two reasons. you should ask people what the wealthy pay in taxes. most people have no idea that 1% pays 40% of the taxes. do no warm, hippocratic oath. the cbo says if you raise taxes on the rich people you'll underperform the economy by a point. why do it at all, larry? >> do y do it the all all. the white house put out a study saying if we fall off the fiscal cliff consumers will lose 200 billion worth of sales, maybe income, too. why are we doing this, keith boyakin? >> two things. first of all, part of the reason, in response to layer, why 1% of the top earners pay 40% of the taxes is because they control 42% of all the income and wealth in the country so there's a great deal of income inequality in our country. we'll debate that larry. but second question, getting back to what you said, laurie kudlow, the white house report didn't say that raising tax on everyone was a problem. it said that raising taxes on the middle class would cause a $200 billion crimp or reduction
, yeah. larry, what are you going to buy here? >> look at the market since the election. in fact, global stock markets are flat. u.s. stocks are down 2%. that's like nothing. so basically what's happening is this fiscal cliff is holding down a market that's being boosted by what steve said, better economic numbers, not just in the u.s. china's bottom is going up. we've seen better pmi numbers in europe. monetary expansion is pushing asset spriess up. so again, if you believe there's going to be resolve, and it could well go down. i actually think there will be bigger buying opportunities if you go through december 31st with negative rhetoric into the new year. that's when things get really nasty here. i don't learn anything from the sound bites from senator reid or boehner or anybody else. these are just negotiations going on. >> all right. >> unfortunately in public. that's my point. >> that's how it's always done. you are so hopeful, bill. >> larry, steve, i'll see you later. >> it's charming, bill. just charming. all right. we have -- >> that's a code word on her part, by the way. >>
is the other half. and many of those members, all in the house, are up for re-election in just two years' time. they have got to be careful, don't they, on how their constituents view all of this, whether they are in the gop and averse to raising taxes or in the democratic party and averse to cutting benefits. >> i can tell you from having visited john boehner's district north of cincinnati last week the fis cliff maybe an abstract discussion here in washington but out there in southwestern ohio, if we tip back into recession, the economic pain would be very real. middle town and the rest of southwestern ohio has been working its way back economically from the long-term loss of manufacturing jobs and troubles in the auto industry. the last thing this area needs now another economic setback from the fiscal cliff. house speaker boehner and his colleagues in the congressional leadership have founded conciliatory notes about their prospects that sounds like good news here at the local chamber of commerce here in middle town but only up to a point. >> i want to be confident. i want to be optimistic
the presidential election as a referendum to anything. they vote for the betrayial as their own defeats. because the tax increases would amount to a de facto destruction. in other words, let's say you are a hard line democrat. you get higher taxes for the rich. the hard line democrats don't care about the stock market. they probably care that the republicans face hard line stocks anyway. many of the hard liners want a smaller defense budget. here is the bottom line. the combination of these lines pla believe that it is blissful not ignorant. the bill will come soon enough even if there is not an agreement. i say we solve the cliff and we go over the cliff and it turns out that the consumer was just past the dpraf yard all along. >> hi jim. i have grown to adore your show. it is enhanced by your insight and personality. i would like to know your thoughts about the high end luxury retail stocks and how they will fair with both the short-term and long-term. >> stocks didn't rally. these are all problems with the fiscal cliff. everyone of those stocks, sort of going off had we heard there was a deal
against taxes when leadership agrees to it. i'm sure they don't record the presidential election as a referendum to anything. referendum to anything. they vote for the betrayal of their own beliefs. because the tax increases would amount to a de facto destruction of their word not to raise taxes. in other words, let's say you are a hard line democrat. you get higher taxes for the rich. the hard line democrats don't care about the stock market. they probably think that the republicans own stocks anyway. many of the hard liners want a smaller defense budget. here is the bottom line. the combination of these lines believe that the consumer is blissful but ignorant. the bill will come soon enough even if there is no agreement. i say we solve the cliff and have a lot more to be confident about. we go over the cliff and it turns out that the consumer was just past all along. >> hi jim. i have grown to adore your show. it is enhanced by your insight and personality. i would like to know your thoughts about the high end luxury retail stocks and how they will fare in both the short-term a
. >> although the president is in a position, he's not running for re-election again, kind of look at things -- >> he's in a position of compromise you would think. 2014, if you can get a democratic house, then you can consolidate everything and you can get a democratic house how? by making them -- >> by saying the republicans are -- >> obstructionists, blah, blah, blah. >> and then you play for the last two years. >> playing to just consolidate all your redistribution. >> i get it, but also a tough way to play the game. >> did you see drudge? >> i did. >> bush 3. >> jeb bush talking about 2016. >> and then christy -- >> already talking about 2016. >> we are. and christie is getting his re-election campaign ramped up. he has unprecedentedly high approval rating. >> after sandy. and he says this is a job he feels leak he needs to continue. >> stanley wants him to stay. some other corporate news involving erickson. it's filed a lawsuit against samsung alleging patent infringement. ericcson says two years to trike a deal were unsuccessful. and an hp shareholder filed a lawsuit alleging the tech
.s. presidential election. the cftc is saying entrade has illegally facilitated bets on future economic data, gold prices and even acts of war. the agency says they're option and can only be traded on regulated exchanges. lehman brothers has striked a deal to sell arch stone to equity residential for just over $6 billion. arch stone owns 45,000 apartment units and the sale closes a rocky five year chapter for lehman which took the company private in 2007 only to see its value plumb met when the u.s. housing market collapsed. auditors now say arch stone was a major contributor to lehman's dehe miz. >>> moodys is sticking with a stable outlook for india. the agency mentioned a list of positives including india's high savings and investment rates, large diverse economy, but moody's did warn of credit challenges posed by india's weak infrastructure, high government debt and inflation. also under pressure partly due you to the country's strong reliance on imported crude. india is the world's fourthimpo may be some relief in sight. cnbc has more on the story live from new delhi. >> so this is a really b
it after the election some of the comments he made. republicans running away from them. he's someone well known from the american people just coming out of a contentious presidential campaign. if he were to put his shoulder to the wheel and assist president obama in trying to move congress along and move some republicans and move democrats as well, that could be a constructive force. i don't know whether that is the end goal of this and whether or not in fact this is simply going to be a private healing session to be followed by some assignment later. if romney chooses to help with this endeavor, he could make some difference. not a huge amount but some. >> thank you for joining us for the latest. new developments on the insider trading investigation surrounding s.a.c. capital. the firm hold be an investor call just a short time ago. kate? >> the headline coming out of this s.a.c. phone call this morning with investors which lasted about a half an hour was that s.a.c. has been informed by the s.e.c. by a wells notice that it may as a parent company face civil charges in connection with th
've got a house election in two years -- less than two years. >> although, i don't think this is about electoral politics right now. this is about -- this is about dollars and cents for specific interest groups, constituents, supporters of these politicians and their ideological views. so, look, it's not easy to do. and i believe at the end they'll do it, but this is part of the dance, you know, before it gets super intense. >> and you know what else it is? it's sausage being made and it's ugly to watch. but then -- and then i think about closing loopholes. and name your loophole, and i can give you a two-year argument. mortgage. oh, it's going to kill the housing industry, charity, we can talk for two years, what will it do to charity? >> universities and -- yes. >> you name any sacred cow. that's why it's sacred, it's a sacred cow. >> state and local tax deductions, oh, my god, what's that going to do to new york? >> is it easier to do the cap and that gives you the nebulous, well, we're not hurting anyone -- >> yes. >> would that work? >> yes. i mean, a lot of tax policy experts lik
. with all these variables, elections, mideast, fiscal cliff, it seems as though there's only so much flight to safety bid you can push into the marketplace. some traders say that's why you didn't notice. in the old days, it would make a difference. yields are already most accommodative from a nervousness standpoint. i will tell you it was the number one conversation. and even though it really isn't about oil, that's the market everybody is trading to of course kind of play the headlines. >> michael, how about you? how does this impact the way you're allocating capital? >> well, as you know, our strategy is about 45% in cash while the prefunctory -- what we'll have left to boost us higher. i think the market does go higher. here's why. you have $85 billion each month from the federal reserve as far as balance sheet expansion. you have negative real interest rates that will be getting even more negative. i expect inflation to take off significantly early in 2013. >> but if you're sitting on 45% cash, that says to me you're still expecting more downside here. don't you think we've already seen
uncertainty, jim, uncertain in taxes, uncertain in the elections. >> right. >> caller: and inflation is a big concern of mine. is there anything i can do at my age to protect myself from all these uncertainties that are coming up? >> okay, well, look. i've got to tell you unless you have -- you're a person who really does have to heed my 20% in gld or gold, gold bullion. i'm not going to tell you listen, you should buy bonds that yield 2% and that's going to protect you. i think gold is going to be the best defense you have against the worries that you just outlined. let's go to anthony in virginia, please. anthony? >> caller: washington redskins boo-yah rg3 nation stand up. >> man. dan snyder is your owner, have you thought about that at all? >> caller: i got a quick question. >> boo! >> when stay on the sidelines or look to get in long-term? >> when it's overbought, my old rule, i use the s&p oscillator. it comes delivered to my door on saturdays. my rule is very overbought, hey, take a pass. another time will come. however, you can get started small and hope it comes back if you just can't
the restructuring. ever since the election it has pulled back along with the rest of the market to the point where it's now almost back to where it was before the announcement. it's time to buy, people. bottom line, you want a real cyber monday deal, go buy yourself -- >> buy, buy, buy. >> -- some federal express. robert in illinois. robert? yo, robert? >> caller: praying for the eagles tonight. >> yeah. we need divine intervention. good you pointed that out. what's up? >> caller: electronic gear this holiday season, and i think this stock has a lot of upside due to the increased volume of sales at this time of year. the stock is skul. >> i felt it's too much of a commodity. i don't like stuff that's sold in those particular stores that they're there. i've been recommending the sales of skullcandy, around since 14, 15. the stock did go up to 16, made me look back momentarily. i stuck by my guns. i still think you should sell skullcandy. fernando in california. fernando? >> caller: [ inaudible ] >> okie doke. >> caller: coming into the fourth quarter for holiday season with all the names it picked
of pins to our elected officials. there it is. 60 million american workers covered by a 401(k) or similar retirement plan. brian warns that the tax benefits that go along with those plans could be on the chopping block in the tax debate brewing in washington. that will severely curb retirement savings. >> but financialed a vie or natalie pace says these are concerns that are being way overblown. both join us now. make your case, natalie. why are they being overblown in. >> the only discussion i've heard of is in the ways and means committee. the republican chairman said he wants to simplify it, make it more efficient, and also get more contributions, not less. so i haven't heard anybody saying they need to chop the 40 k. in fact, i wish the power of this organization and this website would be protecting our 40 -- 40 1 k. >> brian, are you overdoing it? >> absolutely not. the simpson/bowles plan cuts contributions. the last time they did tax reform, they cut the limit by 71%. all of these proposals like capping deductions, like limiting the tax benefits associated with these plans, all of
as the party of more government. but i do think because republicans lost the election, because they've had a difficult time, new york jets fans might recognizefy said they've had the equivalent of a butt fumble over the last couple of months. republicans are on the defensive. they are backing away from grover and i think that is increasing the likelihood that we're going to get a deal. >> never thought the phrase butt fumble would be uttered on cnbc. leave it to harwood. >> especially from john harwood. but you never know. you never know. >>> meantime, ty, state attorneys general have sounded the fiscal cliff alarm this well. 43 ags have sent a letter to congressional leadership's urging them to extend the tax relief on the mortgage debt forgiveness. diana olick has the letter and she joins us with washington with more of the details on that. hi, diana. >> sue, you're right. five largest banks in this nation have already wiped out more than $6 billion of mortgage principle debt for thousands of borrowers under that giant mortgage settle many that just went into effect early this year. they
for the consumer. it is bad for the retailer. i think our elected officials understand that. i think the president understands it. and fortunately, i guess in an odd way the downside is so great they have to come up with a solution? >> how about if they don't? how would it be for your business? >> i think it is going to have an impact on the business only due to uncertainty. but i think there is a lot of positive influences in the consumers' minds right now. the fact that affordability is better. the fact that they feel better about their jobs. the fact this they see job growth happening. certainly here in california we've had job growth. so i think in our world in southern california we're going to be in pretty good shape. but uncertainty is never good. i don't think there should be an option. >> mr. caruso, yesterday craig barrett, former ceo of intel, described california where you live and do a lot of business as america's version of greece because of the level of public expenditure and so forth. do you see it that way? >> no, i don't see it that way. listen, california has its issues. locally
authority to the interim iraqi government, which would run the country until elections could be held. [gunfire] >> the insurgency was already gaining momentum. and with the, then newly constituted iraqi army riding into battle in unarmored pickup trucks, and scrounging for guns and ammunition, the iraqi defense ministry went on a billion dollar buying spree with almost no oversight. the contracts were paid in advance with no guarantees, and most of them involved a single company. >> there were awarded without any bidding to a company that was established a few months prior with a total capital of $2,000. so you had nearly a billion dollars worth of contracts awarded to a company that was just a paper company whose directors had nothing to do with the ministry of defense or the government of iraq. >> the name of that company was alain al jaria, which in arabic means the ever-flowing spring. it's address, here in amman, jordan was a post office box. it's telephone number, a mobile phone. the principal was a mysterious iraqi by the name of naer jumaili. and a half a billion dollars in i
up to the election -- let's shovel out more unemployment. i'm excited. woo! >> if the potential growth rate is 2.5 -- >> is this what we're looking at next month? have you already had the secret meeting? >> i wasn't on the call for that one. my point is that there was enough growth in the third quarter to bring down the unemployment rate. >> if that's the growth that makes you and the world happy, you'll be happy for ten years. >> when you have growth above potential it's sufficient to bring down the unemployment rate. maybe the decline of the unemployment rate was actually for real. >> i'm one of those people -- >> you're not going to convince me. >> i was one of those people skeptical about the last unemployment number that we saw. that makes this unemployment number so much more important as you say. if all those things line up and we're talking about some pretty big ifs, i'll be ready to buy the stock market if we get good gdp number and solid unemployment number, that hasn't happened yet. >> there's another way to quickly look at it. if you get that seven basis point jump o
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